If employers are choosing to focus on educating their employees on how to build and manage an investment portfolio, then, it’s vital to get it right. This means starting with and emphasizing the basics of building an investment portfolio that has, first and foremost, a strong and balanced core allocation to growth and income investments, with the right amount of cash holdings (not too much) and, only when that is in place, the addition of aggressive growth investments.
The end of the year is a good time to hit the reset button in general. This includes taking stock of your financial picture, regardless of where you stand at the moment. And, in fact, if you’re feeling uncertain or worried about your financial picture, this step becomes even more important. Think of year-end as a time to step back, reflect, and reassess where you are financially – to take in the bigger picture – so you can make thoughtful, confident decisions about how to move forward in the coming year.
Now’s the time get on track, to make the right moves that will build on this first big milestone and set the course for a comfortable financial future. Knowing what the “right moves” are to be sure you are “on track” is the tricky part.
Too many of the Millennials don’t know how credit cards work – and that can lead them to costly mistakes.
Not everyone carries a balance on their credit cards from month to month, but for those who do, the average balance per household is now $9,600. That’s about 17% of the average U.S. household income! Here are some strategies you can use to help pay off your credit cards.
Splitting the bill has always been a landscape fraught with social landmines, and new cost-sharing apps only help so much. Here are some suggestions for navigating common cost-sharing situations with grace.
For many of us, “home” means sanctuary, family, the place where we replenish ourselves, and feel safe and grounded. For this reason, when the time comes for us to choose and buy our own home, the decision is often deeply emotional – or even impulsive. With everything else that “home” means, however, it is also one of the biggest investments you will ever make. This means you must enter into it rationally, and with care.
Design your financial wellness program to do more than “educate” employees about finance. Design it to effect behavioral change.
We are in the Wild West phase of financial wellness. No one area of financial wellness is emphasized by a majority of employers. For employers tackling financial wellness in these early stages, here’s my advice for cutting through the confusion.